Attention FAE Customers:
Please be aware that NASBA credits are awarded based on whether the events are webcast or in-person, as well as on the number of CPE credits.
Please check the event registration page to see if NASBA credits are being awarded for the programs you select.

Want to save this page for later?


The Daily

SEC to Focus on Non-Registrant Disclosure Requirements

Chris Gaetano
Published Date:
Sep 28, 2015
SECURITIES-AND-EXCHANGE-COMMISSION-facebookThe Securities and Exchange Commission (SEC) is collecting comments that are intended to guide possible rule changes regarding information disclosures on entities other than the registrant. Specifically, the SEC has released a request for comment on Regulation S-X, which governs disclosures for acquired businesses, affiliated entities, and guarantors and issuers of guaranteed securities. The request is part of an overall effort to review and evaluate current disclosure rules for possible changes, with the project growing out of an initial report in 2013 on streamlining the registration process to make it less burdensome and more efficient.

The SEC is asking for stakeholders to comment, specifically on:

Rule 3-05,Financial Statements of Businesses Acquired or to be Acquired;
Rule 3-09,Separate Financial Statements of Subsidiaries Not Consolidated and Percent or Less Owned Persons;
Rule 3-10,Financial Statements of Guarantors and Issuers of Guaranteed Securities
Registered or Being Registeredand
Rule 3-16,Financial Statements of Affiliates Whose Securities Collateralize an Issue
Registered or Being Registered. 

"We seek to better understand how well these requirements, some of which have remained largely the same for many years, are informing investors and we are soliciting comment on how investors use the disclosures to make investment and voting decisions," said the SEC in the document. 

The SEC is accepting comments on this matter for 60 days.